Financial hardships effect individuals and families any various ways. We’ve included the links below to help narrow down some of the common financial issues that arise, the statistics behind them and potential solutions.
We are currently adding content to address the impact of consumer debt on numerous communities and will be adding to the list above shortly.
The sooner we stop wishing for money to magically appear in our checking account, the more likely we are to become productive contributors to our communities and society in general.
Big media loves to fan the flames of lottery lust and to hype big winners. I just wish they equally covered the lives of those winners five to ten years later. While many big lottery winners successfully manage their newly gained non-earnings, it’s not difficult to find story after story of past winners (from many countries) now in bankruptcy or on welfare.
I find the story of Michael Carroll, a $15,000,000 (9.7 million pounds in Britain) winner in 2002 a perfect illustration for this chapter, and not because of his uncommon situation. It’s actually not. Less than a decade after cashing his winning check, he was broke and unemployed. What fascinates me most is the clarity of how he summed up his current financial situation: “That’s the way I like it. I find it easier to live off of £42 dole than a million.”
What he said is that it was easy for him to collect and live off of $65 in unemployment than to manage millions of dollars. If we have trouble managing a meager or modest income, what makes us think we’ll be able to manage a million dollars?
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